FSSIR Guide to Buyer Representation

A Guide to Buyer Representation

Extraordinary care from beginning to end.

Our commitment has always been to curate an exceptional experience for our clients - one that is characterized by excellence, integrity, and professionalism. Whether you are embarking on your first home purchase, transitioning from another region or country, exploring real estate options, or seeking out-of-state opportunities, it is essential to align yourself with experts.

Our team of experienced Real Estate Advisors understands your unique requirements. We possess an in-depth grasp of our local markets, fortified by an extensive global network. We are committed to providing our clients with comprehensive advice and strategy.

Four Seasons Sotheby's International Realty has created this Buyer Guide to provide you with a comprehensive understanding of crucial components and choices available to buyers during the purchasing process. Our purpose is to inform and guide you through each phase of this journey.

Your trusted Real Estate advisor.

Buying a home is typically one of the largest investments you will make and will have lasting consequences for years to come. Our team of trusted real estate advisors will expertly guide you through the many intricacies of buying a home and help you to avoid costly mistakes.

Leverage the Sotheby’s International Realty Brand

Sotheby’s International Realty is a globally recognized brand that lends credibility to your offers and elevates your representation. Our success is defined by our deep commitment to our clients. This trust has been built over 270 years of Sotheby’s selling their clients’ most valuable treasures.

Navigating the Home Purchase Process

Having an experienced professional in your corner offers a competitive advantage when searching for your home and accessing local resources. An Advisor’s broad perspective can provide a stabilizing force to assist you through what can be a challenging, but ultimately rewarding, process.

Perks of exclusive buyer representation.

Your Four Seasons Sotheby’s International Realty Advisor will prepare a contract outlining our services so we can commit to assisting you with your home purchase transaction. As your exclusive Broker, we will be guiding you through the home purchase experience.

Below is an overview of how we demonstrate value and contribute to a successful purchase:

• Create a personalized purchase strategy

• Provide an overview of the current market dynamics and challenges

• Evaluate purchase price range

• Schedule property tours, both privately and of open homes

• Provide access to off-market, and office-exclusive listings

• Review disclosures on selected homes

• Evaluate & negotiate offers

• Recommend vendors for inspections

• Assist with procuring a mortgage lender and insurance provider

The unmatched value that our advisors provide.

Your Four Seasons Sotheby’s International Realty Advisor has invested countless hours to develop the knowledge needed to guide you to a fully executed contract of sale and through to the closing. Therefore, when you engage a Four Seasons Sotheby’s International Realty Advisor, you’re not just compensating them for the time and effort they put into one transaction - you’re also benefiting from our firm’s years of expertise.

Here are some of the reasons why this expertise is valuable:

WE HAVE THE KNOWLEDGE

Our Real estate Advisors have indepth knowledge about the local market, including pricing trends, neighborhoods, and what buyers or sellers are looking for. They can use this knowledge to guide you to make informed decisions.

OUR ACCESS TO THE NETWORK

Advisors have a vast network of professionals, from inspectors to mortgage lenders and insurance underwriters, which can be invaluable during the buying process. These relationships can expedite processes or uncover opportunities you might not find on your own.

WE CAN NEGOTIATE CONFIDENTIALLY

An experienced Advisor has honed their negotiation skills over many transactions. We can help you obtain the best possible terms on your purchase.

WE CAN NAVIGATE SALES CONTRACTS WITH EASE

Real estate transactions involve a lot of paperwork. Our experienced Advisors understand the ins-and-outs of these contracts and can help you navigate them.

WE SOLVE PROBLEMS

Every real estate transaction has its unique challenges. Our experienced Advisors have likely encountered and overcome many hurdles and can use that experience to address any issues that arise.

WE SAVE TIME

There’s a lot of behind-the-scenes work we do - from researching properties, coordinating with other Advisors and handling paperwork. Our expertise streamlines the process, saving you time.

WE WILL BE YOUR ADVISOR & FIDUCIARY

Buying a home can be emotionally charged. An Advisor serves as a confidential advisor and fiduciary, ensuring that emotions don’t cloud judgment or derail a transaction.

WE PROVIDE GUIDANCE IN THE FUTURE

Our Advisors provide value even after a transaction is complete, offering advice on home improvements, market trends, or when might be a good time to buy or sell again.

WE MITIGATE YOUR RISK

Mistakes in real estate can be costly. Whether it’s missing a disclosure or not understanding a contingency in a contract, our experienced Advisors can help mitigate these risks.

WE CONTINUE TO DEVELOP OUR SKILLS

The real estate market and its regulations are continually evolving. Our experienced Advisors invest in ongoing education and training to stay updated, ensuring we provide you with experienced service.

INITIAL CONSULTATION

Understanding you and your goals

The journey of buying

PROPERTY SEARCH

Finding your dream home

PRE-APPROVAL

Deciding budget and price range

NEGOTIATION

Getting the best price and terms for your purchase

OFFER SUBMISSION

Understanding market conditions

HOME INSPECTION

Examining the condition

buying a home.

INSURANCE

Obtaining Home Owner’s Insurance

INSPECTION condition of the home

MORTGAGE FINANCING

Obtaining lender commitment

COORDINATE AN APPRAISAL

Valuating your future home

SETTLEMENT

Reviewing and executing final purchase documents

PRE-CLOSING WALK-THROUGH

Making sure the property is in the expected condition prior to closing.

What to expect at your first meeting.

An initial consultation is important to understand your home-buying needs and to develop a strategy to help you successfully make a purchase.

Understanding Your Real Estate Goals

• Purchase time frames

• Past experience with real estate purchasing

• Risk tolerance

• Financing and stage of pre-approval, if a loan is needed

Refining Property Search Criteria

• Location and neighborhood

• Price range

• Size of home, style, amenities

• Specific requirements and non-negotiables

• Condition of home and flexibility to make improvements

• School districts, commute, walkability, neighborhood amenities, etc.

Navigating steps to a successful purchase.

Each homebuying journey is unique, just like our clients.

The following is a list of some of the items our Advisors can assist you with that may be part of your home purchase process.

Financing

Financing and good lender relationships are important.We can recommend the right loan officer who can help you financially prepare to purchase your home. Our Advisors can:

• Provide a list of lenders who can pre-approve you and confirm the property price range

• Suggest that you obtain loan pre-approval subject to the property selection

• Collaborate with lender on any Bridge Loan so you can buy before you sell

• Provide any requested contract documentation

• Show the property to the Appraiser and provide supporting comparable sales information

Locating and viewing suitable properties.

Our Advisors view properties continually, follow local market dynamics, and are here to guide you in finding the right home.

Our Advisors can also:

• Set up automated Listing Alerts that meet your search criteria

• Present off-market or pre-market listings as they arise

• Communicate with Advisors to schedule and set up private showings

• Map out and tour properties together

• Recommend properties that are available to view at Open Houses

• Provide timely Market Reports

• Review the pros and cons of each home after viewing

Evaluating selected properties.

We will help you assess how your selected property compares to others on the market and to homes recently sold. A benefit of having a trusted real estate advisor at Four Seasons Sotheby’s International Realty is their familiarity with required disclosures, recommendations for inspectors, and experience with the neighborhood in which you are interested.

• Our Advisors will request and review any and all necessary information from the Listing Agent

• Discuss with your Advisor if you want to get any additional inspections and determine the timeframe for needed contingencies

• If the home is in an HOA, Condo, or Co-op, we will assist in your review of the resale package containing rules, by-laws and budget information

Writing competitive offers.

When we locate a property that meets your needs, we will provide market analysis and strategy to assist you in determining an offer price and terms, and then negotiate on your behalf.

• Communicate with the listing Advisor to get the best information possible about competing offers and sellers’ preferences regarding terms, and the timeline for offer submission.

• Review comparable sales and discuss the price and terms that can best position your offer.

• Our Advisors can prepare a compelling offer with the relevant addenda and disclosures, and will submit the loan approval letter and proof of funds with the offer.

• Get signatures and initials on all offer documents to provide a complete offer.

Presenting Your Offer

Representing you in the best light can be helpful in securing the home you desire. What may not be evident at the outset is the value of having a Four Seasons Sotheby’s International Realty Advisor with a trusted brand and excellent reputation in the eyes of other Advisors - who are often a key factor in helping their clients assess competing offers.

• Present the offer in a timely manner

• Maintain communications and forward any counter-offers for review

• Negotiate on your behalf and write any addenda or subsequent counter-offers

Contract signing.

Congratulations! this is just the start of the transaction process. Your Advisor will guide you through the requirements that are contained in your purchase and sales agreement

Home inspections and other contingencies

There may be numerous contingencies associated with your contract, including a home inspection. Our Advisors will assist you in navigating this process:

• Your Advisor can help you locate a home inspector, plus arrange any additional inspections if needed

• Coordinate and schedule the home inspection

• Attend the home inspection

• Forward and review the Inspection Report with you

• Assist you in negotiating repairs or credits

• Communicate with your lender as requested

• Assist the appraiser with access to the home and provide comparables, as needed

• Provide resources for Homeowners Insurance

• Guide you through any remaining contigencies

Completing the closing process.

Congratulations on your home purchase.

• We can recommend movers, interior designers, landscapers, general contractors, gardeners, cleaning services, and home maintenance services

• Arrange for a final walkthrough of the property

• Provide resources for a Home Warranty Policy

• We will accompany you to the closing (as needed)

Understand buyer representation.

Four Seasons Sotheby’s International Realty Advisors will provide you with a Buyer Agency Agreement that will explain in detail the role of your Buyer Advisor. A Buyer Agency Agreement must be signed by the purchaser and the Broker in order for the Advisor to represent the purchaser on the buyer-side of a transaction. A Buyer Advisor represents only the buyer and promotes and protects their best interests throughout the transaction, keeping all information confidential.

Once an agreement is signed, the Buyer Advisor owes a fiduciary duty to represent the best interests of the buyer throughout the purchase process.

About brokerage compensation.

Similar to a Listing Agreement, Buyers execute an Agency Agreement for professional services and representation between themselves and Four Seasons Sotheby’s International Realty. This confirms the compensation for the Buyer’s Advisor and Brokerage. It should be noted that the amount a brokerage charges is not fixed by law, the commission amount is negotiable, and brokerages may set minimum compensation.

How are commissions paid?

Seller Paid Brokerage Commission

When listing a property for sale, Sellers enter into a Listing Agreement to authorize payment of commission to the Listing Broker. In many cases, the Listing Brokerage, at the direction of the Seller, also offers a commission amount to be paid to the Broker representing the Buyer.

Buyers can request that Sellers pay some or all of the commission due to the Buyer’s Broker in the written offer, which allows the commission to be incorporated into the final sales price.

Buyer Paid Brokerage Commission

Your Advisor can search for properties not listed in the MLS, including For Sale By Owner, Off-Market opportunities, and Office Exclusives. The Buyer Agency Agreement details the commission for buyer representation in these instances.

Vermont

Champlain Valley

South Burlington: 802.864.0541

Central Vermont

Rutland: 802.774.7007

Killington: 802.746.4203

Stowe: 802.253.7267

Northeast Kingdom

St. Johnsbury: 802.751.7582

Southern Vermont

Mount Snow: 802.464.1200

Stratton: 802.297.1100

Manchester: 802.362.4551

Okemo: 802.228.4537

Upper Valley

Fairlee: 802.333.4701

New Hampshire

Lake Sunapee Region

New London: 603.526.4050

Lakes Region of NH

Meredith: 603.677.7012

Southern New Hampshire

Bedford: 603.413.7600

Peterborough: 603.924.3321

Upper Valley

Hanover: 603.643.6070

New York

Hudson Valley

Kingston: 845.331.3100

Rhinebeck: 845.876.5100

Tivoli: 845.757.5000

Catskill: 518.943.7533

Hudson: 518.822.0800

Upstate New York

Saratoga Springs: 518.580.8500

Bolton Landing: 518.644.9500

Lake Placid: 518.523.2550

Central New York

Syracuse: 315.685.8100

Thousand Islands Region: 315.685.8100

Finger Lakes Region: 315.685.8100

Western New York

Buffalo: 716.320.1414

Rochester: 585.394.7111